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Thursday, February 4, 2016

Spiders (SPY) Feb Put Options

1/12/2016 (11:18:23 am, PT)  FP

sell -2 Feb 2016  $165 puts at $0.53 (credit)

Why did I place this trade?

  • stochastics in oversold region (see scary-looking chart HERE!)
  • high implied volatility
  • probability of success:  92.37% (very high)

2/4/2016 (7:16:23 am, PT)

Click HERE to see chart (notice stochastics in overbought region?)

buy back both puts at $0.05 (debit)

PROFIT:  $96


SELL PUTS when the IV is high and GET PAID UP FRONT!
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